Under the concept that green water and green mountains are gold and silver mountains, how green credit policies use the means of allocating credit funds to solve the environmental pollution problems caused by heavily polluting enterprises has become an important issue to be solved. The panel data of listed enterprises were selected in China from 2009 to 2021 and a double differential model was constructed to study whether green credit policies had an impact on the innovation of heavily polluting enterprises. The results show that green credit policies promote the innovation of heavily polluting enterprises. From the perspective of enterprise technological innovation, the micro effect of green credit policy are expanded, which not only helps to understand the implementation effect of green credit policy and the reasons for heavy polluting enterprises to participate in innovation, but also provides valuable experience for the subsequent in-depth implementation of green credit policy and the construction of green financial system.